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New Member
Posts: 3
Registered: ‎01-16-2010
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Secured cc cli?



I am looking in to applying for a secured CC but wonder how the various companies handle credit limit imcreases. I do not seem to find much info on this in the various websites I've looked at HSBC, Citi, BoA, New Millenium. Can one just send in additional deposits and the limit increases accordingly?




Established Contributor
Posts: 684
Registered: ‎10-20-2008
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Re: Secured cc cli?

Most secured cards have you keep the money in a saviings account.  You can usually add to the savings account to increase your credit lmit on the secured card.  Not all of them let you do this so before you get one you want to make sure they let you do this if raising the limit at a later date is in your plans.  I had an Orchard Bank card.  When I had it you could raise your limit by makeing aditional deposits in $100 increments.  You can find out how  to raise the lmiits (if it is possible) by reading the fine print on the applications.  If they have a FAQ on there website for the secured card it usually tells you there also. Some only let you raise the lmit to $500, most let you go at least as high as $1000, many go to $5000 some go to 10000.  You want to check out if you can increase and how much you can increase, how often you can increase,  and in what increments.
Epic Contributor
Posts: 29,450
Registered: ‎10-23-2007
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Re: Secured cc cli?

Citi is the only one I know that you can't add to once you open it.
Established Contributor
Posts: 727
Registered: ‎03-05-2009
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Re: Secured cc cli?

If you happen to have a 5/3 bank near you, they offer a secured card that is linked the the amount of money in your savings account... NOT A CD.  That being said, you can add funds anytime by depositing more into that savings acct.  My sister just opened one of these cards.  They are a pretty decent bank as well, they offer full reimbursement of atm fees, etc:

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